Pharma names created a lot of buzz on Tuesday, as Pfizer gained on reports that its parent company has found a possible treatment for Covid-19 disease.
Cadila Healthcare jumped over 4 per cent after it got DCGI nod for a new drug entity intended to treat Rheumatoid Arthritis.Vodafone Idea gained over 6 per cent after reports that the company paid its deferred spectrum dues.Domestic equity indices snapped their seven-day losing streak as BSE flagship Sensex gained 479 points to 38,623 while NSE benchmark Nifty added 170 points to close at 11,303.In the near term, we expect volatility to remain high, globally as well as domestically.
Market sentiments would be driven by updates on the spread of coronavirus.
We remain cautious on Indian market, said Ajit Mishra, VP for Research at Religare Broking.Here is a lowdown of the movers and shakers of Tuesdays session on Dalal StreetTatas deposit Rs 2,000 cr in AGR duesTatas have made an additional payment of about Rs 2,000 crore to the telecom department on an ad hoc basis towards their AGR liabilities.
The additional payment is over and above Rs 2,197 crore that it had already made to the government.
Shares of Tata Teleservices fell 2.78 per cent to Rs 2.45.Voda Idea jumps 6 per centShares of Vodafone Idea jumped 6.09 per cent to Rs 3.66 after reports that the company paid Rs 3,043 crore towards its deferred spectrum dues to the government.Pfizer closing in on Covid-19 drug?Pfizer soared gained 3.70 per cent to Rs 4,416.40 amid reports that its parent company has found some antiviral compounds with potential for coronavirus treatments.Cadila gets DCGI nodPharmaceutical major Zydus Cadila said it has received approval from the Drug Controller General of India (DCGI) to initiate Phase I clinical trial for a new drug entity intended to treat Rheumatoid Arthritis.
Shares of Cadila Healthcare gained 4.33 per cent to Rs 260.50.GSK Pharma gets new MDDrug firm GlaxoSmithKline Pharmaceuticals said it has appointed Sridhar Venkatesh as Managing Director and Vice-President of GSK India with effect from April 1, 2020.
Shares of the firm gained 0.50 per cent to Rs 1,307.Bank of Maharashtra to raise Rs 600 crState-run Bank of Maharashtra said it would raise up to Rs 600 crore by issuing bonds on a private placement basis.
Shares of the lender gained 1.32 per cent to close at Rs 10.74.L-T gets significant ordersInfrastructure company Larsen - Toubro said the power transmission and distribution business of L-T Construction has bagged significant orders in India and overseas.
Shares of the firm edged 1.27 per cent higher to Rs 1,181.80.SBI Card IPO subscribed 76 per centThe IPO by SBI Cards and Payment Services was subscribed 76 per cent on Day 2 of the bidding process so far.
Shares of its promoter, SBI, rose 0.83 per cent to Rs 289.85.All sectoral indices end in greenAll sectoral indices gained on NSE, led by metals and pharma.
Nifty Metal leaped 5.60 per cent to 2,320 thanks to solid gains in shares of Vedanta, Hindalco, Tata Steel and APL Apollo Tubes.
Nifty Pharma jumped 5.12 per cent as the constituent stocks rallied 3-8 per cent.
Other big sectoral gainers included Nifty Media and Nifty Realty indices.Who moved my Sensex?Reliance Industries was the biggest positive contributor towards Sensexs rally, adding 87 points, followed by ICICI Bank and Kotak Mahindra Bank that together chipped in with 106 points.
Among other major contributors were TCS, Sun Pharma and Bajaj Finance.32 scrips hit 52-week-highAs many as 32 stocks hit their year-highs during Tuesdays trade.
They include Ajanta Pharma, Atul, Deepak Nitrate, Ipca Lab, Metropolis Healthcare and Pfizer.66 stocks oversoldAs many as 66 scrips entered into the oversold category as the Relative Strength Index for them crossed below 30 mark.
They include SpiceJet, Urja Global, GVK Power, Tirupati Sarjan, KM Sugar Mills, Zee Learn, Zenith Healthcare and Take Solutions, among others.